Practice Exercise 01 Pina Colada Corp. had the following transactions. 1. Sold land (cost $8,480) for $10,600. 2. Issued common stock at par for $22,600. 3. Recorded depreciation on buildings for $16,600. 4. Paid salaries of $6,800. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $10,000. 6. Sold equipment (cost $10,100, accumulated depreciation $7,070) for $1,212. (a) For each transaction above, prepare the journal entry